Vice President, Traditional Life Valuation Actuary

The VP, Traditional Life Valuation Actuary candidate will be a key member of the Fortitude Life and Annuity Valuation team, which serves the company by leading valuation and financial reporting requirements for US GAAP and statutory accounting for nontraditional reinsurance and acquired businesses. This position will lead and oversee the valuation and financial reporting of a portion of Fortitude's reinsurance and/or acquired businesses, which includes payout annuities, whole life, term life, current assumption universal life (UL), guaranteed UL, variable UL, life/LTC combo products, fixed deferred and indexed annuities, and accident & health/LTC. The leader will align the business lines to corporate and accounting policies, governance, and control framework and procedures.  The leader will work closely with the finance and controllership team, accounting policy and internal controls, and the actuarial consolidation and financial reporting team.  This role will be based in our Nashville, TN office on a hybrid basis. 

What You Will Do:

• Lead the valuation (US GAAP/LDTI, statutory and tax) requirements for Fortitude’s reinsurance transactions and/or acquisitions, while aligning to corporate and accounting policies, control framework and procedures, and performing periodic valuation of these blocks.
• Lead the periodic US GAAP, Statutory, and Tax valuation and financial reporting for Fortitude Re’s businesses.  Products include Payout Annuities, Whole Life, Term, Universal Life, AH and LTC.
• Supervise directly and/or indirectly a team who will support the valuation work and financial reporting, which includes review of input data for completeness and accuracy and review of reserves for reasonableness and accuracy.
• Lead and support US statutory blue book reporting requirements.
• Reasonably assure that all valuation activities follow Fortitude Re’s Control Framework.
• Perform analytics and prepare analysis of financial results.
• Lead LDTI disclosures reporting for applicable blocks in accordance with non-public company standards and timing.
• Work with the Modeling team to manage and execute the building and maintenance of our Fortitude Valuation Systems (FVS) AXIS models, which entails coding, testing and input updates through change management processes.
• Maintain and develop audit tools to validate reserve calculations.
• Assist in process improvement efforts, particularly automation using Python, GitHub, and other technology platforms.
• Assist in responding to internal and external auditor requests.
• Execute on ad hoc projects.

What You Will Have:

• 8+ years of experience, ideally dealing with valuation and financial reporting.
• Undergraduate degree required (preference for mathematic, actuarial sciences, and other quantitative fields).
• Project management, detail oriented, and strong organizational skills.
• Fellowship of Society of Actuaries (FSA) or an equivalent designation.
• Excellent mathematical, analytical and problem-solving skills with attention to detail.
• Mathematical and actuarial knowledge, computer and actuarial software skills, analytical.
• Problem solving and a basic business sense of financial, accounting and economics aspects of business.
• Proficient with MS Word, Excel, and SQL.
• AXIS experience strongly recommended and/or experience with other valuation platforms.
• Significant technical experience and expert-level US statutory and US GAAP valuation knowledge particularly SFAS 97.
• Specific knowledge of AG 38, and PBR (VM-20) preferable.
• Experience with data structures and handling.
• Excellent written and oral communication skills.
• Highly motivated, results- and goal-oriented with the ability to manage multiple projects independently and with a high level of discipline.
• Familiarity with the Bermuda Monetary Authority Economic Balance Sheet principles and Scenario-Based Approach application.

#LI-Hybrid

Last updated on Aug 9, 2024